Global Bulk Food Ingredients Market: Overview
Bulk food ingredients are the components used in packaged, processed, and ready-to-eat foods like chocolates, beverages, biscuits, and confectionery items. The bulk food ingredients include artificial sweeteners, dehydrated vegetables, dry fruits, nuts & seeds, coffee & tea extracts, and sugars. They are purchased in bulk from a wholesaler and thus also known as whole food ingredients.
Global Bulk Food Ingredients Market: Growth Factors
The growing consumption of processed food coupled with the rapidly increasing world population is the major factor that is driving the market growth vigorously. Moreover, there is a significant spike in the global employment rates in recent years that widened the consumer base of the global bulk food ingredients market. Working people and college students are the fastest-growing consumers in the global bulk food ingredients market owing to its ease in preparation and emergence as a cost-effective option.
The growing per capita and disposable income of the people in developing countries have fueled growth in the global market. Furthermore, the rising income is also raising the living standard of the people in developing and developed countries that contributes to the growth in global markets.
The growing demand for innovative breaded products combined with more flavors and delicious taste propels the market to expand expediently. The growing health concerns and increasing prevalence of lifestyle-induced diseases have inclined people toward a healthy food diet. This increasing inclination is inducing the manufacturers to launch organic whole food including processed products. The COVID-19 pandemic has induced people to shift to a healthy food diet. Furthermore, the growing global bulk food ingredients market is attracting many new entrants to come with new and innovative products, which further bolsters the market to grow significantly during the forecast years.
The bulk food companies are undergoing mergers, collaborations, and acquisitions to expand their business and consumer reach while strengthening their business portfolio. Hence, all of these factors are inducing the market to grow significantly during the forecast period.
Global Bulk Food Ingredients Market: Segmentation
The global bulk food ingredients market can be segmented into type, application, and region.
By type, the market is segmented into primary and secondary processed food. The primary food segment can further be classified into oilseeds, nuts, pulses, grains, sugar, salt, herbs & spices, and others. The herbs & spices segment holds the largest share in the global bulk food ingredients market owing to the growing awareness about its health benefits.
The secondary processed food segment can further be segmented into tea, coffee, & cocoa, processed grains, pulses, & cereals, dried fruits & processed nuts, flours, vegetable oil, and others.
By applications, the market can be segmented into non-alcoholic beverages, confectionery products, snacks & spreads, alcoholic beverages, beverages, ready meals, ready meals, and bakery products. The ready meal segment holds the largest share in the global bulk food ingredients market owing to the changing consumer dietary patterns. Furthermore, the growing demand for pre-packed ready-to-eat food among the working populations projected market growth.
Global Bulk Food Ingredients Market: Regional analysis
Asia Pacific is likely to dominate the global bulk food ingredients market during the forecast period due to rapid urbanization in the developing countries coupled with the growing demand for quality food. The increasing per capita and disposable income in developing countries are also propelling the market growth. The huge production of grain and seeds in countries like China and India is anticipating the market to grow significantly during the forecast period.
North America is expected to register substantial growth due to the growing consumption of ready-to-eat and pre-packaged food among consumers. The increasing consumption of non-alcoholic and alcoholic beverages among the youth population is another factor contributing significantly to the market growth.
Global Bulk Food Ingredients Market: Competitive Players
The prominent players in the global bulk food ingredients market are Cargill Incorporated, EHL Ingredients, Olam International and Tate & Lyle PLC, Ingredion Incorporated, Community Foods Limited, E.I. du Pont de Nemours and Company, DHM Ingredients, Associated British Foods plc, Community Foods Limited, and Archer Daniels Midland Company.
Global Bulk Food Ingredients Market: Regional Segment Analysis
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